The usual slow and terrible service, then charging us extra interest in the meantime while we wait.

Poor, slow service from Standard Bank once again. We have been waiting 4 months for them to convert a building loan to a normal home loan. We have been paying unneccessary interest from April to August in the meantime, because they are so slow.

We have a building loan from Standard Bank. Until the house is completed, they charge an extra 1.5% interest rate. We finished the house and moved in just before lockdown, so we waited until the end of March to start the conversion process. Here is a paper trail to show how shockingly slow the response from Standard Bank has been:

24 March: I sent a whole bunch of documents to Standard Bank to inform them that the house is finished. (The completion sertificate "Form 4", the electic, glazing, plumbing and occupation Certificates)

1 April No reply from Standard Bank yet. I email them to ask how to convert the building loan to a home loan.

7 April Standard Bank sends me a list of security questions.

8 April I reply to the security questions and intruct them to convert the building loan and I also ask what the new monthly payment will be.

5 May No news from Standard Bank yet. I email again and ask for a homeloan statement.

7 May I finally receive an answer to my email from 8 April. Standard Bank says that my request has been sent to the Administration Department. They also send me the homeloan statement.

18 June 5 Weeks have elapsed and there is no news from Standard Bank yet. I email again to ask whether the building loan has been converted and on which date the interest rate decrease will take effect.

1 July Standard Bank sends a list of security questions.

2 July I answer the security questions and again ask regarding progress on the loan and the interest rate. I also remind them that I asked on 8 April already.

15 July Standard Bank replies to my email and informs me which documents I need to email to them to mark the building as complete.

20 July We go to a Standard Bank branch and ask for assistance. We complete the forms in the branch and the consultant emails it to the relevant department. He says that an assessor will have to come inspect the house.

4 August I email Standard Bank again to follow up. The assessor never showed up. We have not heard any news from the bank. I also complain that we have been paying unneccessary interest all this time.

12 August I expose Standard Bank's slow service on Hello Peter.